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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: SouthFloridaGuy who wrote (105375)	2/16/2008 2:58:34 PM
From: Live2Sail	Read Replies (1) \| Respond to of 306849

Two keys to that article: the plunge in the stock market got lenders skittish enough to require 45% down!; what will happen when the conforming limit is raised? That change in the conforming limit is currently slated to last only one year, but I can't see them revoking that limit. I think it's a permanent change. Gotta get more people in trouble.

To: SouthFloridaGuy who wrote (105375)	2/16/2008 3:16:31 PM
From: Sea Otter	Read Replies (1) \| Respond to of 306849

No, we're still not seeing a downturn. Read the article. "homes in the northwest corner - in cities such as Palo Alto, Mountain View and Los Altos - still sell quickly". (And LG and Saratoga, from personal observation). We know a place in PA that just received an offer $500k over asking. And a place in MP not far from us just got three market+ offers in one weekend. Market remains strong. True, in the greater Bay Area and in the working-class sections of the county, things are dire. That is pulling down the averages. But it hasn't affected the areas where the techies live. Times are too good and to much money sloshing around, as I've stated. I'll let you know if and when this changes ;}